CGS-CIMB ups Yangzijiang's TP to $1.91 on strong year-to-date orders

CGS-CIMB Research analyst Lim Siew Khee has reiterated “add” on Mainboard-listed Yangzijiang Shipbuilding with a higher target price of $1.91 from $1.63 previously.

Lim’s report, dated Aug 2, comes after the group signed new orders for a total contract value worth US$1.08 billion ($1.46 billion).

The new orders bring year-to-date (y-t-d) orders for the group to US$6.67 billion and its orderbook to US$8.74 billion.